Can I pay credit card with another credit card? YEP!

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
19 posts
ooxs
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Postby ooxs » Sun Sep 11, 2011 10:20 am

Let me make sure i understand this correctly; you are paying PayPal 3% and avoiding a 3% balance transfer fee? I know it is hard trying to find work and bills piling up but i hope and pray you find something soon and hopefully it will work out for you.


DavidNY
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Postby DavidNY » Sun Sep 11, 2011 5:46 pm

She is avoiding the BT fee (if the card even allows a BT) as well as not paying the cash advance APR with no grace period. Not a long-term solution, but a good alternative to taking a cash advance.

ooxs
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Postby ooxs » Sun Sep 11, 2011 8:36 pm

Interesting, i guess where there is a wheel there is a way.

JNK
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Postby JNK » Thu Sep 15, 2011 5:42 am

DavidNY wrote:She is avoiding the BT fee (if the card even allows a BT) as well as not paying the cash advance APR with no grace period. Not a long-term solution, but a good alternative to taking a cash advance.


NOT smart in my opinion or even a good alternative because PayPal can totally ding her for fraud if they ever catch on to what she is doing. Furthermore, PayPal is not a bank and has no guarantees like a bank might in regards to the security of her transfers.

Avoiding fees is smart... but NOT if FRAUD - which then gets into legal matters which involves PayPal, the persons involved in everything, and the card companies or whoever else is involved - could be an issue.

Having some issues with credit is one thing. Having a history of fraud is still another. Period.

And NEVER, EVER trust PayPal with money you can't afford to lose. EVER.

I have a merchant account with PayPal. Being a 'seller'/'merchant', I get to see a lot of funny things every now and again including fraudulent charges. I cashed one out before thinking it was safe - it was a partial payment for a large contracted project I was working on - and almost a month later, it turned out to be a fraudulent payment which I then owed back since I had already cashed it out. It wasn't my fault as I did nothing wrong, but I definitely lost out on money I was owed and money I definitely needed.
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pablo
 
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Postby pablo » Sun Jan 08, 2012 12:45 am

how is that fraud ??? avoid getting shafted = fraud??

Brenna
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Postby Brenna » Wed Apr 11, 2012 8:58 am

Hi I have a similar question. I want to start transferring my credit card balances to my husbands at about $500-$1,000 a month until mine are zeroed and we can close them out.

I didn't realize this wasn't allowed. I have a few cards with balances less than $3,000 but one large one. He has credit cards with no limits. Is there a way I can start shuffling my balances to him without actually exchanging cash? I can do the PayPal thing too I suppose for this purpose. Thanks.

FutureBillionaire
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Postby FutureBillionaire » Wed Apr 11, 2012 4:13 pm

0% interest convenience checks are the way to go with this situation. I'm going to use some convenience checks to pay down my last card that has a sizable balance. Then I am going to pay it all the way off without paying anymore interest.
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Pete838
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Postby Pete838 » Wed Apr 11, 2012 9:25 pm

Brenna wrote:Hi I have a similar question. I want to start transferring my credit card balances to my husbands at about $500-$1,000 a month until mine are zeroed and we can close them out.

I didn't realize this wasn't allowed. I have a few cards with balances less than $3,000 but one large one. He has credit cards with no limits. Is there a way I can start shuffling my balances to him without actually exchanging cash? I can do the PayPal thing too I suppose for this purpose. Thanks.


Even if you Paypal there will be a fee for CC transaction. Pretty sure it is 2.9% + $5 or something like that.

He could call his CC bank and ask for convenience checks, or request a payoff over the phone.

I'd be interested to know what "credit card" he has with no limit. I have a couple of CHARGE cards with no preset limit, but all of my and everyone else I know's credit card has a hard limit, even if it is $50k or more.
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Brenna
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Postby Brenna » Fri Apr 13, 2012 7:16 am

I'd be interested to know what "credit card" he has with no limit. I have a couple of CHARGE cards with no preset limit, but all of my and everyone else I know's credit card has a hard limit, even if it is $50k or more.
Yes, you're right, sorry wasn't careful with my terms.


0% interest convenience checks are the way to go with this situation.
I have had these included with my statement before but I'm almost completely paperless now, how do you get them?

As for paypal, can I set up both cards on it and transfer the money or does he actually have to withdraw physical funds and then pay that on his card?

Has anyone negotiated with a company for a consolidation and if so which one made the best arrangement for you? I'm talking about balances under 2,000 but on five or six different credit cards I had before we were married. Between us we have TEN credit cards. I'd like to just pay one bill. Husband doesn't want to do a loan and income wise we really shouldn't have to, but paying all these bills and different interest rates is getting confusing, lol

Thanks for your replies. Great Forum. I see folks listing all their different cards, mine's a decent list



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